TBH Global Asset Management LLC Grows Stock Holdings in Apple Inc. (NASDAQ:AAPL)

TBH Global Asset Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 38.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 253,358 shares of the iPhone maker's stock after buying an additional 70,896 shares during the period. Apple comprises about 5.6% of TBH Global Asset Management LLC's portfolio, making the stock its 2nd biggest position. TBH Global Asset Management LLC's holdings in Apple were worth $56,278,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Conquis Financial LLC acquired a new stake in Apple in the fourth quarter valued at $63,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter valued at about $65,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at about $82,000. Compass Planning Associates Inc acquired a new position in shares of Apple in the 4th quarter valued at about $96,000. Finally, Collier Financial acquired a new position in Apple during the 4th quarter worth approximately $140,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Apple stock traded down $2.06 during mid-day trading on Friday, reaching $230.73. The company's stock had a trading volume of 31,276,517 shares, compared to its average volume of 57,842,020. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market capitalization of $3.42 trillion, a P/E ratio of 35.01, a PEG ratio of 2.44 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm's fifty day moving average price is $209.13 and its two-hundred day moving average price is $213.37.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has initiated a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is currently 15.78%.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AAPL shares. Loop Capital decreased their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. TD Cowen dropped their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Barclays raised their price target on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Finally, UBS Group raised their price target on Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $237.60.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.